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The Shenzhen-based company, founded by Peter Ma Mingzhe over three decades ago as a life insurer, released the news in its annual report on Tuesday. Lufax is one of the 11 technology companies under Ping An's fintech and healthtech business.

The Trump administration's latest crackdown on Huawei has drawn immediate opposition from the US semiconductor industry.  Semiconductor Industry Association President and CEO John Neuffer warned that the "broad restrictions" on commercial chip sales will bring significant disruption to the US.

The Shanghai branch of the People's Bank of China, or the central bank, issued a briefing earlier this month, saying illicit acts including illegal fundraising, absorbing public deposits, financial fraud and pyramid sales could exist behind the scenes.

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The Sounders will be the first Major League Soccer team with club-specific content available from a dedicated team page on Prime Video, and content viewable across a variety of devices will extend beyond matches to include highlights, player interviews, press conferences, and more.

The Shenzhen Component Index closed 0.75 percent lower at 13,860.46 points.

The Swiss company predicted stable industrial production and property activity, firm fixed-asset investment (FAI), and faster export growth in a research note Wednesday. The indicators are scheduled to be released in mid-January.

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The Tokyo-based securities company calculated that China's market rates had edged 52 to 183 basis points higher to 2.56-5.74 percent across the loan and interbank markets, bonds, money market funds and wealth management products since 2016, although benchmark rates remain unchanged at 1.5 percent for one-year deposits and 4.35 percent for one-year loans.

The State Council's executive meeting on Wednesday decided that China will cut value-added tax rates as part of a tax reduction package amounting to 400 billion yuan this year to drive high-quality development.

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The Shenzhen Component Index closed 3.65 percent higher at 11,381.76 points.

The Southern Metropolis Daily reported on April 10 that the US electric carmaker has chosen a site in the province and is waiting for the authorities' approval.